Subprime Mess: Is that a Mushroom Cloud in the Distance?
If you are like me you are having a difficult time getting your arms around the subprime crisis. I am not sure how bad it is; what it is going to do to me; and what action I should take, if any? I hear all of the problems in the news, but, as of yet, it hasn't affected me. Finally, I after much agnst I came up with an anology that helps me visualize the situation and how I should react.
Picture yourself standing outside your home. Fifty miles away, in the distance, you see a mushroom cloud from a nuclear blast rising into the atmosphere. Once you get over the initial shock you realize that it is far away from you. In fact, the sun is shining and everyone is going about their business.
The second thought that comes to your mind is: "I wonder which way the wind is blowing?" Is the nuclear fallout coming towards me or away? How bad is it going to be? For those individuals at ground zero it is pretty bad!
I visualize the subprime mess as a nuclear bomb that has exploded in our financal system. Personally, I don't have any direct contact with industries affected by the crisis. The sun is still shining on my business and we are making money. But I am keeping an eye on that mushroom cloud in the distance! I know that as it spreads through the economy some fallout will affect me. In the meantime, we are spending causiously, hiring selectively and marketing aggressively.
Picture yourself standing outside your home. Fifty miles away, in the distance, you see a mushroom cloud from a nuclear blast rising into the atmosphere. Once you get over the initial shock you realize that it is far away from you. In fact, the sun is shining and everyone is going about their business.
The second thought that comes to your mind is: "I wonder which way the wind is blowing?" Is the nuclear fallout coming towards me or away? How bad is it going to be? For those individuals at ground zero it is pretty bad!
I visualize the subprime mess as a nuclear bomb that has exploded in our financal system. Personally, I don't have any direct contact with industries affected by the crisis. The sun is still shining on my business and we are making money. But I am keeping an eye on that mushroom cloud in the distance! I know that as it spreads through the economy some fallout will affect me. In the meantime, we are spending causiously, hiring selectively and marketing aggressively.
Labels: economy, Falling Economy?, US economy
posted by Jim Wilkinson at
11:56 AM
1 Comments:
I like the mushroom cloud analogy. I think the steps you are taking is good and the same ones I am taking also. Many people see this coming to effect banks and lenders and having them call in loans. They see credit cards being effected also. I am trying currently to put as much payment on my cards and pay off asap and I am being much more frugal and selective with my purchases. I see many people doing this and I think it is a sign people know it's gonna get worse and credit debt is not going to help.
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